Bank of England raises rate to 4%, with Bailey signaling further increases possible
The Bank of England raised its benchmark interest rate by 0.25 percentage points to 4.00% on November 5, its first increase since August 2023. Eight policymakers supported the quarter-point rise, while one favored a half-point increase. The bank said ongoing inflation pressures justified the move, and Governor Andrew Bailey said further increases could be warranted if inflation risks do not ease.